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Does a College Degree Make You a Better Financial Adviser?

When you’re considering going into the field of financial advising, you have different paths that you could pursue. In fact, you may even wonder if procuring a college degree is necessary at all. While you could have a successful career without one, consider the ways in which a degree can help you to succeed.

Building Connections

If you study in a finance and business management program, you have the opportunity to build connections with leaders in the field. For example, some of the professors might recognize your skill and recommend you for potential internship and job opportunities. Internships also provide the chance to gain hands-on experience and to impress potential bosses. After graduation, you may find that a job offer is waiting if you succeeded at your internship.

Learning the Terms

Some people find it easy to pick up on hands-on skills, and you may consider yourself one of those individuals. However, an education entirely outside of the classroom does not necessarily introduce you to the jargon of the field. When on interviews, you will likely need to use the language of the industry to show hiring committees that you know what you’re talking about.

Getting Certification

If you want to succeed in the financial arena you have to realize that people need to know that they can trust you with one of the most important aspects of their life i.e. their money. People may tell you that money shouldn’t be all that important. But as you get older you realize that money means security. Without money you can’t retire, you have to continue working until the day you die. With money comes freedom, the freedom to do what you want and go where you want. To retire, to change jobs, to enjoy life. So in order for someone to entrust their financial future to you they need to be convinced that you first of all can be trusted and second of all that you know what you are talking about. Certifications like the CFP (i.e. Certified Financial Planner) help clients to feel that they can trust you to not only know what you are doing but also that you will have their best interests at heart.

Understanding Modern Methods

You may think that you can learn the trade from family members who have been in the business for decades. Even though they likely have a high level of expertise, they may not know the most modern methods for tackling financial advising. For example, computer programs may have come into fruition after they graduated from their own finance programs. They may have some knowledge of these programs but not the full knowledge necessary in the modern world. Going to college for this degree helps to keep you relevant and updated.

Knowing the Current Climate

Going to college also helps you to stay on top of the latest trends and news in the industry. For example, some professors may require you to read and respond to articles in both written and verbal forms. When you go on interviews, you can show that you are a part of the finance world outside of just working in one business for a number of years. When employers hire new people, they usually want to reduce the amount of training that they have to do. If you are relevant and modern, you help them accomplish that goal.

Networking with Others

Colleges also often host networking events. You may even find that your specific department has one that is tailored to your needs. Furthermore, you may be invited to networking events after you graduate from the school to. Whether you are still searching for a job or you’re thinking about switching to a new company, having a connection to a school and program can help you to do so.

Obtaining Support

Enrolling in an online degree program also means that you have the support of your cohort, the professors and the school. Many colleges have career centers. When the time comes for you to go on interviews and to develop a resume, you can work with consultants at the career center to gain industry-specific knowledge and to learn how to approach these projects in a professional manner. College campuses are also often home to writing centers. If you need to write a cover letter for a job, you could go to one of the tutors there for assistance. You should check to see if the career center or the writing center works more with this type of writing; you may discover that both sources can support you.

A college degree doesn’t necessarily make you a better financial adviser. However, procuring a degree and gaining these experiences can help you to improve.

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